Latest newsThrough the Medical Schemes Act, the Council for Medical Schemes (CMS) is granted the authority to approve auditors within the medical schemes sector. With the aim of transforming the industry and enhancing audit quality, the CMS is actively working on empowering the boards of medical schemes by requiring their audit committees to recommend and interview potential auditors through a series of Audit Quality Indicators (AQIs). This initiative is part of a broader effort to improve oversight and ensure that audits meet high standards of accountability and integrity as well as transforming the industry. 11 Dec 2024 Read more In our constantly evolving digital ecosystems, the notion of 100% cybersecurity is a myth. Instead, the focus needs to be on resilience in the face of cyber threats. As cyber risks continuously change, so too must our risk management processes, encompassing cyber-technical roles, people-related controls, and resilience measures, writes BDO South Africa’s Kevin Moodley (head of financial services technology) and Cézanne Krieg (associate director of financial services). 10 Dec 2024 Read more The South African Institute of Chartered Accountants (Saica) would like to announce a terminology shift in its academic and professional programmes, transitioning from the term 'accredited' to 'endorsed' to describe programmes that meet the requirements for Saica’s CA(SA) and AGA(SA) qualifications. 10 Dec 2024 Read more The State is meant to operate in an efficient, economical and effective manner. As such, legislative obligations and its systems and operations should enable that. In the intricate interplay between regulation and the constitutional right to economic freedom, governments often find themselves walking a tightrope. While regulations are essential to ensure fair practices, protect consumers, and safeguard the environment, overregulation can lead to unintended consequences that impact the various ecosystems the State seek to regulate. One of the less discussed but equally critical impacts of overregulation is its detrimental effect on government employees and processes. Excessive government controls over businesses can harm those within the government itself, leading to inefficiencies, stress, and a decline in overall effectiveness. 6 Dec 2024 Read more “Mr. Zuckerberg, would you be comfortable sharing with us the name of the hotel you stayed in last night?” This was a question asked to the chief executive officer of Facebook during senate hearings in 2018. The hearings were in relation to privacy breaches at Facebook that led to personal information being used for unintended purposes. Issues of privacy and protection of personal information have been at the forefront of many legal and political debates in the last couple of years. 28 Oct 2024 Read more As corporate South Africa and the rest of the world celebrates Global Ethics Day today (Wednesday, 16 October), the South African Institute of Chartered Accountants (Saica) has warned that workplace misconduct is worse than ever, with almost nine out of 10 employees saying they don’t feel like they work in an ethical workplace culture. 16 Oct 2024 Read more Having recognised the exceptional talent abroad, the South African Institute of Chartered Accountants (Saica) has stepped up to honour those making remarkable contributions beyond our borders, extending recognition to talents across various fields – not just accounting. 1 Oct 2024 Read more Building on the foundations of last year’s inaugural summit, the South African Institute of Chartered Accountants (Saica) hosted its second Public Sector Summit on Friday, 23 August 2024 to deliberate on matters relating to transparency, accountability, sustainability and collaboration in the sector. 6 Sep 2024 Read more Renewable electricity contracts, or power purchase agreements, are in high demand as companies and governments seek sustainable solutions, leading to growth in solar and wind energy purchases to meet net-zero carbon emission targets and reduce environmental impact. 29 Aug 2024 Read more The International Accounting Standards Board (IASB) has issued amendments to the International Financial Reporting Standards (IFRS Accounting Standards) as part of its annual improvement process. 23 Aug 2024 Read more The South African Institute of Chartered Accountants (SAICA) is urging government institutions to prioritise the creation of a more positive and supportive working environment for qualified professionals. As government continues efforts to professionalise the public sector, attracting and retaining professionals will be amongst the key tests of success. 30 Jul 2024 Read more Technology is always great when it’s used in an ethical manner. We have a better working environment currently than some of the forebearers of the finance ecosystem. With the introduction of artificial intelligence (AI), we have to also consider the risk of fraud. The question that arises is the extent to which data can be manipulated to the point that the use of that information results in suspected or intentional fraud. 18 Jul 2024 Read more The last five years have seen an improvement in the audit profession when it comes to audit failures. Is this evidence that the entire financial ecosystem finally understands the importance of taking responsibility for the audit process or is it because of the increase in legislative mandate and high scrutiny that is currently imposed on the audit profession? 17 Jul 2024 Read more While many audit tools and methods have evolved over time, the practice of audit has been in existence for years. But how do we as auditors stay ahead of the curve of emerging technologies? 10 Jul 2024 Read more In the dynamic landscape of small businesses, effective communication stands as a cornerstone for success. It’s not merely about exchanging information but fostering relationships, aligning goals, and driving growth. Clear and strategic communication can transform the trajectory of a small business, enhancing productivity, team morale, and customer satisfaction. Let's explore how mastering effective communication can unlock the full potential of small businesses. 9 Jul 2024 Read more More than 3,350 high school learners will attend the Fasset Saica development camps across South Africa’s nine provinces this youth month to harness their academic potential and achieve the results needed to pursue careers in high-demand professions. 21 Jun 2024 Read more To improve the information available to investors about business acquisitions, the International Accounting Standards Board (IASB) has issued an Exposure Draft (ED) with proposed amendments to IFRS 3 Business Combinations and IAS 36 Impairment of Assets. 4 Jun 2024 Read more The International Accounting Standards Board (IASB) released an Exposure Draft (ED) in November 2023 to address ambiguities in IAS 32 and to enhance comparability in financial statements. 3 Jun 2024 Read more The governance ecosystem is touted to give accountability, transparency, fairness and responsibility as the pillars on which corporate governance is built to all stakeholders and sanction or root out perverse conduct in an appropriate and balanced manner. This should keep the equilibrium of all stakeholders’ rights and obligations in check. 25 Apr 2024 Read more The retirement funds industry is poised to implement the long-awaited two-pot system, effective 1 September 2024, granting members partial access to their retirement savings. However, there is a critical need for education and managing members' expectations due to prevalent misinformation. Members must stay informed through their respective funds’ communications to understand the process of accessing these funds fully. While many members grasp the concept of a R30,000 withdrawal, other crucial considerations remain overlooked. Kedibone Sono CA(SA), SAICA project director for members in business (technical), sheds light on these considerations, alongside the challenges members need to navigate while assessing their savings. 27 Mar 2024 Read more
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